Turkish lira hits record low after election results

The Turkish lira dropped to a record low against the dollar in early Sunday night trading, after election results started to come in.

The lira fell to 2.799 against the dollar at about 8 p.m. local time (1100GMT), after preliminary results indicated that there would be no parliamentary majority for the ruling Justice and Development Party.

The Turkish lira came back to about 2.75 against the greenback, still a record low, in early morning trading on Monday.